How can banks know what customers really want? Many banks plan to further invest in digital in 2015. It makes sense – digital is immediate, it’s always on, it’s a cost saver – and it pleases customers. The key is to give customers what they need, not only what they say they need. Behavioral economics research allows us to do this and to differentiate between declared and revealed preferences – what customers say they want, vs. what they really want – to engage with customers in a meaningful manner.
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$20 million? Meh. PayNearMe CEO Danny Shader is used to raising money — this was a Series E raise, after all — so the $20 million of funding his company received this week was no big deal to him. More important was the deal struck with Family Dollar stores, whichRead More
The Consumer Financial Protection Bureau (CFPB) may be on a roll. As in a snowball rolling downhill, growing larger by the minute and threatening to crush anything that gets in its way. (Not that they would put it that way.) The intentions behind their actions are good – to preventRead More